Haddon Township NJ 08108 609-332-4918 JSilvagni@MauiWealthSolutions.com .

Navigating Your Financial Future:
Guidance On Your Path To Financial Freedom
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Your Financial Roadmap
Tax Efficient Retirement Plan
On a scale of 1 to 10, with 1 being the most important and 10 the least; How important is implementing tax-avoidance into your overall financial plan?.....
...What steps have you taken in this regard?....
What is the difference between tax-deferred and tax-free?
In summary, tax-free means you paid the taxes on the initial investment today but you don't have to pay taxes on earnings or withdrawals, while tax-deferred means you postpone taxes until a later date when you withdraw the funds. The majority of people would like to avoid or greatly reduce taxes at retirement. Creating an efficient tax-avoidance strategy can be a key factor in your financial plan.
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Simply, it is either paying tax on your income now or later in retirement. Which is the best way to structure your plan?
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There are different paths to take to create your retirement income streams, below are some of the most common tax-free and tax deferred vehicles used.
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Understanding what is the right income creating tool is for your financial road map, starts with learning what is available.
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Tax-free vehicles:
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Roth IRA
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Roth (401k,403b)
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Cash Value life insurance - IUL (Indexed Universal Life Insurance)
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529 (unless not used for qualified education expenses)
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Municipal bonds (generally are but may have exceptions depending on situation)
Tax-deferred vehicles:
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Traditional IRA
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401k
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403b
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Annuities
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Pensions
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Real Estate (some exceptions may apply)
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Long-Term Capital Gains
The specific rules and regulations governing tax-free and tax-deferred accounts may vary depending on your jurisdiction and the type of account or investment involved.
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Connect with me today to discuss the strategies that may fit best in your financial plan.